The Jamaican sprinter Usain Bolt had a bump-start in 2023. Bamboozled by frauds, the Lightning Bolt lost all his invested fortune. The Stocks and Securities Limited(SSL) indeed caused a disaster for him and several others. With all the investment fiasco going on in the world, it’s legit to talk about the moneymaking policy of the NHL great, Wayne Gretzky. The Great One followed one of the greatest advice from his father to remain conservative when it comes to money.

Possessing a vague knowledge of the stock market, Gretzky restrained himself from putting money into the funds to make more. Adhered to his father’s ethics, the Great One followed certain rules.

Wayne Gretzky had moneymaking principles

Wayne Gretzky, 61, still thanks his father Walter Gretzky for his golden tips. Father Gretzky always kept reminding his son about the athletes who went bankrupt in order to make $10 out of $1. Frightened by the incidents, the White Tornado chose a rather reserved and calm way of financial investments. While delivering a speech at an event organized by Toronto Dominion Bank in 2012, he opened up about his preferences. He shared, “My dad always told me: ‘It could end tomorrow’,”. So, he preferred to avoid debts and kept the money only in banks.

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Sharing an anecdote, Gretzky admitted how his father only allowed a small amount for him to spend and put the rest away. “He wrote me a check for $5,000 and said: ‘Go get whatever you want.’ I bought a used Trans Am for $3,800. So I guess the story is that he taught me from a young age to be really conservative and that’s the way I’ve lived my whole life.”, he delivered.

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From then on it was a habit as he implied, “I just like to keep my money in the bank.” The Great Gretzky even advised the new athletes to follow the same path to remain successful even after retirement.

The Great One’s advice to the rookies

The Great One suggested that emerging players should play like orthodox while investing money. Expressing his choice he implied, “I’m not a big risk taker. I’ve never been an adventurous guy on investing in things I didn’t know anything about. Put your money away — and that’s the advice I give my kids.”

This is indeed a piece of golden advice for anyone in the world as aptly put by the G.O.A.T., “You don’t need to go spend big dollars on fancy cars and big houses and watches and jewelry. Put your money away and you’ll enjoy your life that much more when you retire.” 

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In the setting of Bolt’s huge loss, Gretzky’s suggestion to remain safe with all the hard-earned money. What do you think about the advice from the legend? Give us your thoughts in the comment section below.